AceableAgent Texas PL: Principles 1 Course Overview


AceableAgent's real estate course overview

Each TREC-approved real estate education program is made up of six courses. We recommend taking the courses in this order: 

Each course takes 30 classroom hours to complete. Because you’ll be spending a fair amount of time in each course, and because they’re preparing you to pass the licensing exam,  it’s helpful to know what to expect and what return will you be getting on your time investment. 

Principles I covers the most important and central real estate topics from a high-level perspective. Later, the other five courses dive deeper into each of these concepts. 

After Principles I, you’ll have a solid foundation and understanding to start with and build upon. Let’s go over a few of the key topics you’ll cover.

Types of Real Estate 

Principles 1 covers different types of real estate, such as:

  • Residential 

  • Commercial

  • Industrial 

You’ll learn the characteristics of these types of property and what it would look like to specialize in these types of property. Maybe you’ll come across a specialization that sparks your interest, such as investment properties or rental properties. 

You’ll learn the difference between real and personal property. Real property, such as land itself, is conveyed in a sales contract but personal property is not always conveyed in a sales contract. It’s important to know the difference between these things and how to clarify, in writing, who gets what during a transaction. Clarifying these things early will save you a lot of trouble and confusion later on. 

Difference between real property and personal property

Principles I covers what separates land from real estate from personal property. All of these differences and nuances are incredibly important to effectively practicing real estate. 

land vs. real estate vs. real property

Agency

There is a whole course on the laws surrounding agency relationships, but Principles I is the starting point. Agency is one of the most difficult concepts in real estate and a concept students find challenging on the exam. Understanding agency from the beginning is key to passing the exam the first time. 

You’ll learn the core concepts of agency: 

  • Fiduciary duties

  • Necessary disclosures 

  • Substantive contact 

And so much more. If you study up on agency in Principles 1, you’ll be setting yourself up for success later on. 

Ethical Practices

Being an agent comes with a lot of responsibility. That’s why the concept of ethics is so important. Principles 1 will cover: 

  • Fair Housing Laws

  • Equal opportunity in housing 

  • Discrimination

  • Ethics

All of these topics will, and should, affect your daily practice as an agent. 

Texas Real Estate License Act

The Texas Real Estate License Act (TRELA) is incredibly important. It lays out the dos and don'ts of the real estate world in careful, explicit detail. It covers rules and regulations regarding things such as: 

  • Real Estate Recovery Trust Account

  • How to renew a license

  • How the complaint procedure works 

Principles 1 covers the main points of TRELA so students know what to expect from TREC, their brokers, and themselves as they prepare to join the real estate business. 

The Legal Stuff

Real estate purchases are often the biggest, most risky purchases a person will ever make. There’s a lot of responsibility that comes with that kind of life event. That’s why there are many laws, acts, regulations, and best practices each license holder needs to know to ensure they’re handling that responsibility appropriately. A few of these are covered in Principles I’s discussion of: 

  • Contracts 

  • Descriptions

Contracts 

Promulgated contracts are contracts prepared and authorized by the Texas Real Estate Commission. License holders must use these contracts when applicable. In many cases, drawing up a unique contract is considered the unauthorized practice of law and a legal violation. 

Principles 1 covers a certain kind of contract,  listing agreements, as well as some of the disclosures and notices that come with listing a property. 

Descriptions 

The way you choose to describe a property and the way the law describes a property might be very different. It’s important to know how to legally describe a property. You’ll learn about things like: 

  • Land measurements

  • Surveying 

You’ll also go over how the law defines things like “sales agent.” This is important because you’ll be one! 

Ownership

Owning real estate can be complex. That’s why Principles I lays out: 

  • Taxing and tax benefits

  • Types of home ownership 

  • Insurance for owners 

  • Mortgages

  • Ownership rights

  • Co-ownership, such as trusts 

Your buyer clients will typically be looking to become owners of a piece of real estate. You’ll want to provide them with the most helpful information possible, so knowing this information is important. 

Building a Foundation

Read over the full, TREC-published course curriculum, to give you a more comprehensive idea of the exact topics you’ll cover. 

If it feels like a lot, don’t get discouraged. Courses, like Aceable’s, make the information easy, convenient, and digestible and Principles I in itself sets every student up for success by providing a high-level, solid foundation to build on. 

If you’re ready to take on Principles 1, read more about how to get your license the cost of a real estate license in Texas

Sarah Jeter


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